Greece issues first 5-yr-bond since bailout exit
AFP, Athens
Greece yesterday issued a five-year bond, a finance ministry source said, its first such debt issue since exiting its last bailout.
The ministry source confirmed the issue to the news agency without specifying the amount sought, which according to reports is between two and 2.5 billion euros ($2.9 billion).
In its last bond issue in February 2018, Greece raised 3.0 billion euros at 3.5 percent via a 7-year bond.
Offers at the time stood at around 6.5 billion euros.
The previous five-year bond sale, in July 2017, raised 3.0 billion euros at 4.625 percent.
Greece currently has no urgent need to draw money from the bond markets as it has built a cash cushion of at least 15 billion euros.
Our financing needs are fully covered to 2020, Prime Minister Alexis Tsipras told parliament earlier this month.
But it acts as a psychological milestone, designed to show that the country is on the road to recovery after emerging from its third international debt bailout in August.
